Why use the Bearish Harmonics indicator?

The Bearish Harmonics indicator contains everything you need to trade bearish harmonic patterns effectively. It displays patterns on your charts with several entry points. In addition, the indicator calculates precise price targets based on Fibonacci ratios.

The indicator is fully customizable. You can choose the pattern(s) of your choice, select signal types, and apply confirmation filters.

1. Harmonic Pattern Recognition

Identifying harmonic patterns on a chart can be a very time-consuming task. It would require knowing all the Fibonacci ratios inside and out. The indicator recognizes the twelve most favourable harmonic patterns. You will immediately spot patterns on your charts.

You can select the patterns of your choice in the indicator settings:

Here are the screenshots of the twelve bearish harmonic patterns detected by the indicator:

2. Selling Signal Detections

The indicator detects sell signals specific to each pattern. It incorporates several types of signals to help you adapt to each situation. You will take down trend reversal, resumption, and continuation signals.

Here are the types of sell signals detected by the Bearish Harmonics indicator:

Here are examples of the sell signals detected by the indicator:

3. Sell Signal Confirmation

Harmonic patterns inherently provide excellent signals, but you can further improve performance by confirming them. This involves ensuring the market moves in the direction of the signal by checking various indicators.

The Bearish Harmonics indicator contains several options for confirming sell signals. You can enable signal validation and apply volume, strength, and trend filters.

4. Defining Precise Price Targets

Correctly defining the price target is crucial to the outcome of a trade. It is sometimes difficult to know how far the price can go before consolidating.

The unique feature of harmonic patterns is that they allow you to define precise price targets with a high degree of precision. The indicator uses the construction points of the patterns to calculate Fibonacci ratios. These ratios will be used to define precise price targets.

5. Displaying Fibonacci Levels

You can display Fibonacci levels for a pattern independently of the price target. This will help you visualize rebound and consolidation zones.

6. Stop Loss Display

Harmonic patterns provide excellent signals, but no strategy can be 100% successful. Therefore, you should always add a safety stop to an open position to protect your capital.

By default, the indicator places the stop loss below the last low point of the detected pattern. You will adjust its position in the indicator settings.

7. Customizing the Indicator

The indicator is fully customizable. You can choose the pattern(s) of your choice, set their size, select signal types, apply filters, and modify the display.

8. Trading Alerts

The Bearish Harmonics indicator allows for trading alert activations. The Prorealtime platform will notify you when the price breaks a key level. You will create an alert on all assets in all timeframes.

9. Backtest and Automated Trading

You can call the indicator in a ProBuilder backtest. You will test different configurations to find the most profitable one.

Bearish Harmonic Pattern Screener

The screener provided with the indicator will enable you to identify opportunities in real-time. You will scan hundreds of thousands of stocks in a few minutes. The screener works across all asset classes and time frames.

Online Documentation

I provide complete documentation describing the usage and settings of the indicator. I also provide an example of code you can use to backtest your strategies and create an automated trading system. You can consult this documentation at any time on this page:

Bearish Harmonics Documentation [EN]

LIFETIME LICENSE – UPDATES INCLUDED

Compatible with Prorealtime V11 & V12